Well it’s the end of Q2 for me and I always reflect and review the past 6 months at this point. Coming out of 2020 we had loads of volatility, Brexit, Trump, Corona and I can see now that I had become a trend chasing junkie….
What caught me out this year was that cognitive bias or hunger…. trading a trend that simply was never going to happen. Discretionary trading is built on repeating patterns with a judgement call, I recognise now that I was getting stuck and then hammered by a range bound GBPUSD, unable to change my mindset fast enough.
I have friendly banter with fellow traders, most of them use an algorithm of some sort and for the majority of the time they do well. However when they reach strategy exhaustion they really, really struggle to adapt and quite a few of them have given up or completely gone off at a tangent. For me it’s not so dramatic, especially at Darwinex. I can make a few tweaks and take a pilots eye view of the market to trade in sync, which is where we are now.
It’s been a great 3 months with my underlying strategy hitting my personal goals each month. Sadly the Darwin WET is still tethered tightly to it’s risk manager and only taking a proportional position which has held it’s 2021 recovery back. Also despite been super consistent I can see I’m not going to be awarded any additional trading funds via DarwinIA anytime soon (currently languishing in 712 position, urggh!).